CHINA COPPER INDUSTRY FORUM
Outlook of Domestic Copper Demand

Venue: Shanghai Time: 25-26, February, 2009

Background

Copper market witnessed a striking year in 2008. Copper price was in the range of $8,000/tonne in 1H year and surged to $8,890/tonne in July due to USD depreciation and rocketing oil prices, as well as strike in copper mines. It was a different story since October with pent-up demand along with outbreak of global recession, experiencing a huge downturn to $3,480/tonne or down by 60%.

It is also tough for domestic copper industry haunted by rising energy price, declining processing fees, turmoil in global financial crisis, with production cut and even shutdown in a host of small-scale copper derivative plants.

China came to be the spotlight in the year of 2009 with stimuli project. When will the overseas financial market revive? Is there a u-turn in 2H year?

Highlight

Stimuli of four trillion - bailout for copper market?
The bulk of the stimuli project lies in infrastructure industry in China, in which investment of 900 billion in housing market is bound to enhance the whole real estate market including consumption of air-conditioner and refrigerator and etc, in favor of copper market as well. While does it have a decisive say in copper market?

Overflow of supply in the world, is it still the seller's market in 2009?
Copper market remained to be the seller's market in the past three years, while it suffered a slump this year.
How about the outlook in 2009 then?

How should we ride out of the plunge in copper market?
Consecutive downward movement in copper market panicked the market after October 2008 and saw a slight rally in mid November by virtue of favorable policy enacted. Is there any new opportunity in 2009?

Investment over 1 trillion in power grid, is that a boom lasting to the 12th "five-year" plan?
Projects like power grid upgrade in urban & rural communities and energy development prop up copper industry

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